The automaker did not reveal the amount of shares nor the price they would be offered at in the registration document, but it did set a maximum proposed offering price of $100 million. The offering will be underwritten by J.P. Morgan, and the shares up for grabs will come from a 41.5-percent stake in Chrysler held by the UAW trust. All proceeds will go to the trust.

Fiat now owns 58.5 percent of Chrysler, and reportedly wants to buy the remaining stake that’s held by the UAW VEBA so that both automakers can merge into one. However, Fiat and the UAW trust haven’t been able to settle on what Fiat should pay for the 41.5-percent stake. Analysts see the move as a negotiating tactic, employed by the UAW in an attempt to get Fiat to raise its offer and stop the sale to the public. GM also recently announced it plans on buying back almost half of the UAW VEBA trust’s preferred shares for about $3.2 billion.

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